It could have been worse. Come to think of it, it probably will be worse.
You may have noticed that here in the U.S. of A., we've stumbled into an economic sticky wicket. Spending's spun outta control, and budgets must tighten. Last year, the Pentagon embarked upon a series of spending cuts. And few months back, we saw a worst-case scenario proposed, in which the Pentagon might slash defense spending by $1 trillion dollars over the next decade ... but that's not the end of it.
Turns out, the same issues we're facing here in the Colonies have touched the Motherland as well. Over in Britain, a "Strategic Defence and Security Review" and "Comprehensive Spending Review" are both due out next week, and expected to recommend cutting British defense spending by about 10% ($6 billion) over the next four years.
For the most part, local European defense contractors Thales, EADS, and BAE will take the biggest hits to Euro-defense pare-backs. But don't be Fooled: American firms are at risk as well. In particular: Lockheed Martin
Meanwhile, British generals are wondering whether General Dynamics'
Not all bad news
Less at risk, I suspect are the $300 million in revenues Force Protection
What's more, the news good be good for at least one company: Boeing
More defense investing Foolishness:
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